Doha: The Qatar Economic and Commercial Activities Guide of the Qatar Chamber shows a notable growth in the number of registered industrial establishments which has risen from 814 at the beginning of the year to 835 so far in 2022.
The Activities Guide launched by the chamber last week notes that the current year recorded a growth in the number of factories in the country with 21 joining the wheel of production.
However, according to the Guide the number of licensed industrial establishments dropped from 436 to 429 during the year.
Data from the Ministry of Commerce and Industry showed the operation of 18 new factories and the launch of 81 new local products during the fourth quarter of 2021.
The Figures from the Ministry of Trade and Industry reveal that the contribution from manufacturing industries to the GDP amounted to QR15.880bn last year while the value of exports of goods of local origin reached QR97.409bn during the same quarter last year.
The industrial sector recorded a six percent growth in 2020 in conjunction with the progress in projects to develop the small and medium industries area.
The Ministry of Commerce and Industry disclosed plans to achieve a significant growth in the manufacturing sector surpassing four percent in the current year.
The Ministry said: an objective of the industrial strategy is to notch a 4.5 percent growth rate in the manufacturing sector.
Exports of local private sector until end 2021 amounted to around QR26.4bn compared to QR15Bn posted for the same period in 2020, notching a record increase of over 77 percent.
The industrial sector has maintained the growth momentum since the start of 2015 in various productive sectors in par with the needs of the local market goods and commodities in which national industrialization depend, the chamber guide noted highlighting a promising 2022 for industrial growth.
The Ministry of Commerce and Industry statistics also indicate the operation of 23 new factories, launch of 920 local products and employment of 1,550 workers during the first quart of the current year.
The Chairperson of the Qatar Chamber of Commerce and Industry HE Khalifa bin Jassim Al Thaniw said the contribution from Qatari industrial to the GDP rose to 8.7 percent in the first half of 2021 as against 7.3 percent in 2020.
Estimates of the quarterly GDP at current prices rose to 40.6 percent and exceeded QR176bn in the third quarter of 2021 compared to estimates of the same quarter in the previous year.
He pointed out that the industrial sector achieved a growth rate of six percent in 2020 and the number of factories reached 927 with a volume of investments of about QR263bn which confirms the state economic diversification strategy.
The government support for the industrial sector has contributed to the growth of the sector and boosting its performance through the launch of many initiatives and facilities including postponing certain bank loan payments to the Qatar Development Bank, exempting from rental value, launching the initiative own a factory within 72 hours, finding alternative markets for local factories and importing raw materials through them and exporting their products.
